Crypto Price Analysis 10-6: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: RIPPLE: XRP, NEAR PROTOCOL: NEAR

The cryptocurrency market is correcting after the weekend surge, which saw Bitcoin (BTC ) rally to a new all-time ￰0￱ flagship cryptocurrency crossed $125,000 and set a new all-time high of $125,559 before correcting and moving to its current ￰1￱ is down nearly 1% over the past 24 hours, trading around $123,949. Meanwhile, Ethereum (ETH) briefly crossed $4,600 on Sunday as markets surged before correcting and moving to its current level of $4,567, a marginally lower position over the past 24 ￰2￱ (XRP) crossed $3 over the weekend, reaching an intraday high of $3.06 on Sunday before moving to its current ￰3￱ (DOGE) followed a similar trajectory but is down over 2%, trading around $0.257.

Meanwhile, Solana (SOL) is down over 1% after reaching an intraday high of $236 on ￰4￱ (ADA) is down over 3%, while Chainlink (LINK) is down almost 3%. Stellar (XLM) , Hedera (HBAR) , Litecoin (LTC) , Toncoin (TON) , and Polkadot (DOT) have also registered notable ￰5￱ Bitcoin ETFs Register Second-Highest Weekly Inflows U. S.-listed Bitcoin ETFs registered $3.2 billion in inflows last week, the second-largest weekly inflows since their launch in January ￰6￱ jump was due to renewed investor interest as prices reached record ￰7￱ to data from SoSoValue, only the week ending November 22, 2024, registered higher ￰8￱ recovery reversed the previous week’s $902 million in ￰9￱ expected, BlackRock’s iShares Bitcoin Trust (IBIT) dominated the inflows with $1.8 billion, followed by Fidelity’s FBTC with $692 ￰10￱ activity heavily favored IBIT, which saw billions worth of shares exchanged ￰11￱ note that IBIT has become the preferred vehicle for institutional ￰12￱ US government shutdown has seen investors pivot heavily towards perceived safe-haven assets like Bitcoin (BTC) and gold, both of which soared to new ￰13￱ have attributed the return of positive sentiment to growing expectations of a rate cut, which has improved sentiment towards risk ￰14￱ Kalchev, analyst at Nexo, stated, “Growing expectations of another US interest rate cut triggered a “shift in sentiment,” attracting renewed investor demand for Bitcoin ￰15￱ current run-rates, Q4 flows could retire over 100,000 BTC from circulation — more than double new ￰16￱ absorption is accelerating while long-term holder distribution eases, helping BTC build a stronger base,” near key technical support levels.” Stablecoin Market Cap Could Power Crypto Rally The record $300 billion stablecoin market capitalization could indicate that more investor capital is flowing on-chain, acting as fuel for the ongoing market ￰17￱ supply reached a record $300 billion on Friday, a 46% year-to-date growth that may outpace the previous year’s ￰18￱ record comes as October, historically a bullish month for BTC and other cryptocurrencies, started on a positive ￰19￱ Grachev, founding partner at Falcon Finance, stated, “Transfer volumes are in the trillions each ￰20￱ metrics show constant activity across ￰21￱ are settling trades, funding positions, and giving users dollar access where banks fall short.” The $300 billion supply could indicate a rebound in digital assets, along with growing integration of stablecoins in traditional ￰22￱ Santos, chief technical officer at Mansa Finance, stated, “The stablecoin supply's expansion is often interpreted as a sign of fresh dollar-equivalent liquidity that can quickly rotate into Bitcoin, Ethereum, or ￰23￱ this sense, the $300 billion threshold looks like rocket fuel for the next market cycle.” Morgan Stanley Recommends ‘Conservative’ Crypto Allocation Morgan Stanley has issued new guidelines for crypto allocations in multi-asset portfolios, recommending a conservative approach in a report to investment ￰24￱ Stanley analysts recommended a 4% allocation for cryptocurrencies in “Opportunistic Growth” portfolios, and a 2% allocation for “Balanced Growth” portfolios.

However, they recommended a 0% allocation for portfolios focused on wealth preservation and ￰25￱ analysts stated in the report, “While the emerging asset class has experienced outsized total returns and declining volatility over recent years, cryptocurrency could experience more elevated volatility and higher correlations with other asset classes in periods of macro and market stress.” Hunter Horsley, CEO of Bitwise, called the report “huge news,” adding, “GIC guides 16,000 advisors managing $2 trillion in savings and wealth for clients. We're entering the mainstream era.” GENIUS Act Could End Banking Rip-Off Tushar Jain, co-founder of Multicoin Capital, believes the GENIUS Act will trigger an exodus of deposits from traditional bank accounts into higher-yield stablecoins, ending the ability of banks to rip off retail ￰26￱ stated, “The GENIUS Bill is the beginning of the end for banks’ ability to rip off their retail depositors with minimal ￰27￱ Genius Bill, I expect the big tech giants with mega distribution (Meta, Google, Apple, etc) to start competing with banks for retail deposits.” Jain argued that tech giants will begin competing with banks for retail deposits, and offer better stablecoin yields, a better user experience, along with instant settlement and 24/7 ￰28￱ (BTC) Price Analysis Bitcoin (BTC) surged to a new all-time high on Sunday thanks to a weekend rally that took it past $125,000 to $125,559.

Bullish sentiment around the flagship cryptocurrency intensified over the weekend after spot Bitcoin ETFs registered their second-best week on record, and exchange Bitcoin reserves fell to a six-year low, indicating investors were preparing to hold their assets for the long-term, often interpreted as a bullish ￰29￱ flagship cryptocurrency crossed $120,000 on Friday and registered a marginal increase on Saturday, settling at $122,458. BTC surged to a new all-time high on Sunday, reaching $125,559 before settling at $123,520. Buyers have retained control during the ongoing session, with the price marginally ￰30￱ began a retracement after hitting its new all-time high, experiencing fresh volatility.

However, it has maintained its position above $123,000 after a weekend rally that was fueled partly by an unusual spike in weekend ￰31￱ analyst warned that the entire move to the upside could be “bait” for ￰32￱ analyst stated in a post on X, “Passive shorts compounding ￰33￱ opening here on the consensus that the weekend pump is bait.” CoinGlass data showed liquidity on exchange order books being taken on either side of the price. However, traders generally view weekend moves as unreliable indicators of where the price will head next, due to a lack of ￰34￱ where the retracement could bottom, trader CryptoNuevo stated, “For the week ahead, I think we could see a 4h50EMA retest - it’s overextended, and you can see the retests in previous similar Price ￰35￱ that, we should see a new move up higher.

Therefore, I'm still favoring longs over shorts from the 4h50EMA.” Popular analyst Rekt Capital argued that BTC could take time to definitively break $124,000. “There should be no surprise that Bitcoin has been rejected from ~$124k on the first time of asking in this ￰36￱ all, the last time Bitcoin was rejected from $124k, the rejection preceded a -13% ￰37￱ needs to prove that this $124k resistance is a weakening point of ￰38￱ any shallower dip or pullback from here would do just that.” Some analysts highlighted growing institutional interest, adding that the absence of sharp price pullbacks indicated sizable ￰39￱ Franzen, creator of Cubix Analytics, stated, “When I see short-term price action like this, with minimal pullbacks and large spikes to the upside followed by sustained bids, I see institutions.” BTC started the previous weekend with a marginal drop on Saturday before rising over 2% on Sunday and settling at $112,197.

Buyers retained control on Monday as the price rose almost 2% to cross $114,000 and settle at $114,365. Despite the positive sentiment, BTC fell to a low of $112,695 on Tuesday. However, it recovered from this level to settle at $114,067, ultimately registering a marginal ￰40￱ sentiment returned on Wednesday as BTC rallied, rising over 4% to cross $118,000 and settle at $118,659. Buyers retained control on Thursday as the price rose 1.65% to reclaim $120,000 and settle at $120,621.) Price Analysis Ethereum (ETH) registered a sharp pullback after briefly crossing the $4,600 mark on Sunday, reaching an intraday high of $4,616 before settling at $4,515.

Short-term traders have their eye on key resistance levels, while long-term traders are focused on the broader prediction for ￰41￱ key network upgrades, rising institutional interest, stablecoin activity, and DeFi use cases, ETH’s next move could play a key role in defining its position in the next bull ￰42￱ maintained its position above $4,300, starting a fresh increase and climbing above $4,500 and $4,600. However, selling pressure at upper levels led to bulls losing momentum, with the price dropping to current ￰43￱ ETH can decisively claim the $4,600 level, it could move to $4,650. A clear move past this level could send the price past $4,700.

On the other hand, a fresh decline could see ETH slip below $4,500. However, if selling pressure persists and ETH slips below $4,300, then the price could drop to $4,000. ETH’s brief push above $4,600 sparked speculations of a move to $4,700 or higher. However, bearish sentiment prevailed at upper levels, as investors became cautious after signs of slowing momentum and near-term ￰44￱ started the previous weekend in the red, registering a marginal decline on ￰45￱ action turned bullish on Sunday as ETH rose over 3% and settled at $4,144.

Buyers retained control on Monday as the price rose nearly 2% and settled at $4,217. Despite the positive sentiment, ETH was back in the red on Tuesday, dropping almost 2% to $4,145. Bullish sentiment returned on Wednesday as the price rose 4.92% to cross $4,300 and settle at $4,349.) Price Analysis Solana (SOL) surged to an intraday high of $237 on Sunday as the cryptocurrency market rallied. However, it could not push higher and lost momentum after reaching this level, ultimately settling at $228.

SOL traded in bullish territory last week but lost momentum on Friday as selling pressure ￰46￱ a result, it fell by over 2% to $227 on Saturday before rebounding on ￰47￱ is up over 2% during the ongoing session, trading around $233. Meanwhile, Matt Hougan, Chief Investment Officer at Bitwise, believes Solana will be Wall Street's network of choice for stablecoins and real-world asset ￰48￱ argued that the network’s speed and finality make it a better option despite Ethereum’s dominance. “I think Solana is the new Wall ￰49￱ can see what is happening in the stablecoin and tokenization space, and they know that it is going to be enormously ￰50￱ important people are saying that stablecoins will reinvent payments and tokenization will reinvent stock, bond, commodity, and real estate markets.” Hougan also highlighted network and settlement speed improvements as key factors that could influence investors on Wall ￰51￱ has bet big on Solana and offers investors a fund called the Bitwise Physical Solana ETP, giving investors exposure to SOL through a fully-backed, physically held ￰52￱ also has a spot Solana ETF waiting for SEC ￰53￱ final decision on the ETF is due on October ￰54￱ started the previous weekend in the red, registering a drop of almost 1%.

However, it recovered on Sunday, rising 3.58% to settle at $210. Buyers retained control on Monday despite selling pressure as SOL rose 0.92% to $212. Despite the positive sentiment, SOL lost momentum on Tuesday, dropping over 2% to a low of $204, before settling at $208. Bullish sentiment returned on Wednesday as the price rallied, rising over 6% to reclaim $220 and settle at $222.) Price Analysis Ripple (XRP) started the previous weekend in positive territory, rising nearly 1% to $2.807.

Buyers retained control on Sunday as the price rose over 2% to $2.868. Price action remained positive on Monday as XRP rose 0.48%. However, it was back in the red on Tuesday, dropping 1.25% to $2.846. Bullish sentiment returned on Thursday as XRP rallied, rising 3.58% and settling at $$2.948.) Price Analysis Near Protocol (NEAR) started the previous week in bearish territory, dropping to a low of $2.68 before settling at $2.77, ultimately dropping 0.94%.

Selling pressure intensified on Tuesday as the price fell by over 5% and settled at $2.62. Despite the overwhelming selling pressure, NEAR recovered on Wednesday, rising nearly 8% and settling at $2.82. Buyers retained control on Thursday as the price rose over 5% and settled at $2.97.